Mortgage buyer Freddy Mac announced that average rate on 30 years loan fell to 3.84 percent last week.
According to Freddy Mac survey, the rate on the 30-year loan dropped to 3.84 percent, compared with 3.88 percent two weeks ago and 4.71 percent a year ago.
That is below the previous record rate of 3.87 percent reached in February.
The average 15-year rate dropped to 3.07 percent from 3.12 percent, compared with 3.12 percent two weeks ago and 3.89 percent a year ago.
Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.85percent, unchanged from two weeks ago and down from 3.47 percent a year ago.
One-year Treasury-indexed ARMs also hit a record low at 2.7 percent, compared with 2.7 percent two weeks ago and 3.14 percent a year ago.
According to the National Association of Realtors, home sales declined 2.6 percent in March to a seasonally adjusted annual rate of 4.48 million.No tags for this post.